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Has the Economy Recovered Jobs Lost During the Great Recession

 

Has the economy recovered jobs lost during the Great Recession?


Exhibit 5-8: Number of jobs lost and added since December 2007, by age group

Number of jobs lost and added since December 2007, by age group

Men and Women ages 16 to 19

Men ages 16 to 19

women ages 16 to 19

For men – the number of jobholders in this age group was 604,000 below the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 746,000 below the December 2007 level as of September 2014

Men and Women ages 20 to 24

Men ages 20 to 24

Women ages 20 to 24

For men – the number of jobholders in this age group was 95,000 below the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 90,000 above the December 2007 level as of September 2014

Men and Women ages 25 to 34

Men ages 25 to 34

Employed

For men – the number of jobholders in this age group was 62,000 below the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 503,000 above the December 2007 level as of September 2014

Men and Women ages 35 to 44

Men ages 35 to 44

Women ages 35 to 44

For men – the number of jobholders in this age group was 1,649,000 below the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 1,403,000 below the December 2007 level as of September 2014

Men and Women ages 45 to 54

Men 45 to 54

Women 45 to 54

For men – the number of jobholders in this age group was 1,206,000 below the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 1,038,000 below the December 2007 level as of September 2014

Men and Women ages 55 to 64

Men 55 to 54

Women 55 to 64

For men – the number of jobholders in this age group was 3,393,000 above the December 2007 level as of September 2014

For women – the number of jobholders in this age group was 3,000,000 above the December 2007 level as of September 2014

“Businesses like jewelry stores, which depend on lifecycle transitions for sales, can be affected by drastic population changes as cohorts move across the lifecycle stages”

Exhibit 5-9: This is what has happened to the labor market and your customer base since December 2007

Number of jobs added since December 2007.png

Source: Equity Communications, using U.S. Bureau of Labor data

Comments

Increases in the number of jobholders usually result in more retail sales. The customer base of men, almost across the board, is still to turn around. That has likely affected sales of products targeted at men.

The middle stage of the adult lifecycle has lost a huge chunk of the customer base. Some jobs have been lost to the recession but the continuing exit of baby-boomers and older generation X cohorts is likely responsible for the huge structural shift. The labor market is graying at a rapid pace.

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